In this episode, Michelle discusses the crucial topic of supplier diversity as an effective way to extend DEI principles beyond the internal workings of an organization and into the community. Michelle outlines six key areas to consider when developing a supplier diversity program: mission and principles, KPIs and spending, sourcing and onboarding, support and development, tier 2 suppliers, and governance. By focusing on these areas, organizations can better align their supplier diversity efforts with their overarching DEI goals, ensuring meaningful and measurable impact.
Michelle also highlights the importance of aligning with suppliers who share similar values and encourages tracking current spending patterns to set achievable goals. She also discusses the need to support and develop long-term relationships with diverse suppliers, potentially turning them into strategic partners. Resources and organizations like the Billion Dollar Roundtable, the National Minority Supplier Development Council, and numerous chambers of commerce are recommended for organizations seeking guidance on supplier diversity.
To learn more or connect with Michelle, visit: [ Ссылка ]
YouTube Chapter Summary:
00:00 Start
01:00 - What is Supplier Diversity
02:19 - Dimensions of Diverse Suppliers
02:45 - Importance of Small and Local Businesses
03:01 - Key Area 1: Mission and Principles
04:07 - Key Area 2: KPIs and Spend
05:24 - Key Area 3: Sourcing and Onboarding
06:20 - Key Area 4: Support and Development
07:43 - Key Area 5: Tier 2 Suppliers
09:39 - Key Area 6: Governance
10:39 - Recommended Resources and Organizations
